Armed Forces Insurance
Encyclopedia
Armed Forces Insurance (AFI) provides property and casualty insurance
to military professionals throughout the United States and overseas. AFI is headquartered in Leavenworth, Kansas
, approximately 20 miles northwest of Kansas City, Missouri
.
Insurance include all active duty
, retired and former uniformed services
(the armed services, the Public Health Service
and the National Oceanic and Atmospheric Administration
) members; current or retired Department of Defense
civilian employees; as well as spouses, widows and children of current or former AFI members. AFI employees with at least one year of service may purchase AFI coverage at preferred rates.
; homeowner’s, condominium and renter’s insurance; specialty and highly-valued personal property
insurance (motorcycle, personal watercraft
, classic car
, valuables, etc.); flood insurance
; liability insurance
; and umbrella insurance. All AFI members also receive free identity theft
resolution and identity document
recovery services in the event of a disaster provided by IDTheft911 (www.afi.org/member/idtheft). In addition, AFI members have access to life insurance, investments and banking products specifically designed to meet the military's needs through an alliance with Armed Forces Benefit Association (AFBA). AFI members who request life insurance
are referred to an AFBA customer service representative.
At present, AFI has nearly 75,000 policyholders. As a member-owned, not-for-profit
association, AFI is governed by a Subscribers' Advisory Committee composed of active duty, reserve and retired military members that represent members’ insurance needs. The Board of Directors
of the Attorney-in-Fact
manage the business aspect of Armed Forces Insurance operations. All members retain voting rights
and receive a proxy ballot in support of the annual meeting. Underwriting and investment gains are returned to members as dividends after a provision is made for contingencies such as large fires or hurricanes. A professional staff manages daily operations in accordance with the operational policies and procedures
approved by the Board.
Armed Forces Insurance is a reciprocal interinsurance exchange, providing a means to diversify risk for AFI members by transferring their personal risk to other subscribers who agree, jointly and severally, to be obligated to indemnify any covered loss during the term of the policy.
. Thirty-eight officers of the garrison gathered to form this organization to provide low-cost fire insurance
protection for their personal property tailored to the particular needs of regular army officers. They pledged their support to the Association (which later became Armed Forces Co-operative Insuring Association, and now Armed Forces Insurance Exchange).
Through the years, the organization evolved to include other types of insurance products for military members. Currently, both personal property and dwellings are protected against loss due to a number of perils. Personal liability insurance also is available, and personal automobile coverage is offered in a limited area.
In 1982, an affiliate organization, Armed Forces Insurance Exchange, was formed to operate as a licensed entity as states increasingly required insuring organizations to be licensed. On July 1, 1992, remaining Association assets and liabilities were transferred to the Exchange, and the merger between Armed Forces Insurance Cooperative and Armed Forces Insurance Exchange was complete. The formation of the Armed Forces Insurance Agency in 1999 allowed the company to partner with other insurers to offer a broader range of products and services to policyholders.
Companies (NAMIC), a trade association
for property/casualty insurance companies, and Property Casualty Insurers Association of America; a trade association that represents Armed Forces Insurance and other insurance companies before state and federal lawmakers. As a NAMIC member, AFI has national legislative representation and greater access to resources. AFI also is a corporate member of the Association of the United States Army
(AUSA), a private, nonprofit organization that supports the Army—active duty, National Guard, Reserve, civilians, retirees and family members.
Chairman Thomas A. Dials, Col, USA (Ret);
Vice Chairman Jack E. Walker;
SAC Chairman Myron J. Griswold, COL USA (Ret);
SAC Vice Chairman Paul D. VanGorden, COL USAF (Ret);
Norman B. Dawson;
Robert E. Doran III;
Don Giles;
David A. Greenamyre;
Paul Heacock;
Thomas M. Fogt.
2009 Subscribers’ advisory committee:
This committee is made up of subscribers who oversee the operations of the Attorney-in-Fact to ensure conformity with the subscriber's agreement and power of attorney for the benefit of all subscribers. The duties and responsibilities of the Subscribers' Advisory Committee (SAC) are to supervise the Attorney-in-Fact's operations; serve as trustees of Subscribers' stock; supervise the finances of AFI; and advise in the selection of accountants for annual statements. 2009 Subscribers’ advisory committee members include:
2011 Senior management:
, an independent company that evaluates an insurance company's balance sheet
strength, performance and business profile, has issued AFI’s current rating as A- (Excellent).
in Ft. Worth, Texas
, on New Year’s Eve. The company also serves as a title partner for the Armed Forces Adventure Area at the Bowl, as well as the Great American Patriot Award, presented to a military luminary at the Bowl game
each year. The recipient for 2008 was Gen. David Petraeus. AFI is a major contributor to the United Way through various company-sponsored events and activities, including an annual sports celebrity golf tournament
. The company also contributes to give2thetroops.org, an America Supports You charity.
Casualty insurance
Casualty insurance, often equated to liability insurance, is used to describe an area of insurance not directly concerned with life insurance, health insurance, or property insurance. It is mainly used to describe the liability coverage of an individual or organization's for negligent acts or...
to military professionals throughout the United States and overseas. AFI is headquartered in Leavenworth, Kansas
Leavenworth, Kansas
Leavenworth is the largest city and county seat of Leavenworth County, in the U.S. state of Kansas and within the Kansas City, Missouri Metropolitan Area. Located in the northeast portion of the state, it is on the west bank of the Missouri River. As of the 2010 census, the city population was...
, approximately 20 miles northwest of Kansas City, Missouri
Kansas City, Missouri
Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties...
.
Membership eligibility
Those eligible for membership with Armed ForcesArmed forces
The armed forces of a country are its government-sponsored defense, fighting forces, and organizations. They exist to further the foreign and domestic policies of their governing body, and to defend that body and the nation it represents from external aggressors. In some countries paramilitary...
Insurance include all active duty
Active duty
Active duty refers to a full-time occupation as part of a military force, as opposed to reserve duty.-Pakistan:The Pakistan Armed Forces are one of the largest active service forces in the world with almost 610,000 full time personnel due to the complex and volatile nature of Pakistan's...
, retired and former uniformed services
Uniformed Services
Uniformed services are bodies of people in the employ of a state that are not employed on standard terms of contract, but have some element of additional discipline, and wear a uniform.Typically the uniformed services of a state include:...
(the armed services, the Public Health Service
United States Public Health Service
The Public Health Service Act of 1944 structured the United States Public Health Service as the primary division of the Department of Health, Education and Welfare , which later became the United States Department of Health and Human Services. The PHS comprises all Agency Divisions of Health and...
and the National Oceanic and Atmospheric Administration
National Oceanic and Atmospheric Administration
The National Oceanic and Atmospheric Administration , pronounced , like "noah", is a scientific agency within the United States Department of Commerce focused on the conditions of the oceans and the atmosphere...
) members; current or retired Department of Defense
United States Department of Defense
The United States Department of Defense is the U.S...
civilian employees; as well as spouses, widows and children of current or former AFI members. AFI employees with at least one year of service may purchase AFI coverage at preferred rates.
About AFI
AFI product offerings include automobile insuranceVehicle insurance
Vehicle insurance is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom...
; homeowner’s, condominium and renter’s insurance; specialty and highly-valued personal property
Personal property
Personal property, roughly speaking, is private property that is moveable, as opposed to real property or real estate. In the common law systems personal property may also be called chattels or personalty. In the civil law systems personal property is often called movable property or movables - any...
insurance (motorcycle, personal watercraft
Personal water craft
A personal water craft , also called water scooter, is a recreational watercraft that the rider rides or stands on, rather than inside of, as in a boat....
, classic car
Classic car
A classic car is an older car; the exact meaning is variable. The Classic Car Club of America maintains that a car must be between 20 and 40 years old to be a classic, while cars over 45 years fall into the Antique Class.- Classic Car Club of America :...
, valuables, etc.); flood insurance
National Flood Insurance Program
The National Flood Insurance Program is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 . The program enables property owners in participating communities to purchase insurance protection from the government against losses from flooding...
; liability insurance
Liability insurance
Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy...
; and umbrella insurance. All AFI members also receive free identity theft
Identity theft
Identity theft is a form of stealing another person's identity in which someone pretends to be someone else by assuming that person's identity, typically in order to access resources or obtain credit and other benefits in that person's name...
resolution and identity document
Identity document
An identity document is any document which may be used to verify aspects of a person's personal identity. If issued in the form of a small, mostly standard-sized card, it is usually called an identity card...
recovery services in the event of a disaster provided by IDTheft911 (www.afi.org/member/idtheft). In addition, AFI members have access to life insurance, investments and banking products specifically designed to meet the military's needs through an alliance with Armed Forces Benefit Association (AFBA). AFI members who request life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
are referred to an AFBA customer service representative.
At present, AFI has nearly 75,000 policyholders. As a member-owned, not-for-profit
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
association, AFI is governed by a Subscribers' Advisory Committee composed of active duty, reserve and retired military members that represent members’ insurance needs. The Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the Attorney-in-Fact
Power of attorney
A power of attorney or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter...
manage the business aspect of Armed Forces Insurance operations. All members retain voting rights
Suffrage
Suffrage, political franchise, or simply the franchise, distinct from mere voting rights, is the civil right to vote gained through the democratic process...
and receive a proxy ballot in support of the annual meeting. Underwriting and investment gains are returned to members as dividends after a provision is made for contingencies such as large fires or hurricanes. A professional staff manages daily operations in accordance with the operational policies and procedures
Policies and Procedures
Policies and procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies...
approved by the Board.
Armed Forces Insurance is a reciprocal interinsurance exchange, providing a means to diversify risk for AFI members by transferring their personal risk to other subscribers who agree, jointly and severally, to be obligated to indemnify any covered loss during the term of the policy.
History
Armed Forces Insurance began on a frontier army post in 1887, when the Army Cooperative Fire Association was founded at Fort Leavenworth, KansasFort Leavenworth
Fort Leavenworth is a United States Army facility located in Leavenworth County, Kansas, immediately north of the city of Leavenworth in the upper northeast portion of the state. It is the oldest active United States Army post west of Washington, D.C. and has been in operation for over 180 years...
. Thirty-eight officers of the garrison gathered to form this organization to provide low-cost fire insurance
Property insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main...
protection for their personal property tailored to the particular needs of regular army officers. They pledged their support to the Association (which later became Armed Forces Co-operative Insuring Association, and now Armed Forces Insurance Exchange).
Through the years, the organization evolved to include other types of insurance products for military members. Currently, both personal property and dwellings are protected against loss due to a number of perils. Personal liability insurance also is available, and personal automobile coverage is offered in a limited area.
In 1982, an affiliate organization, Armed Forces Insurance Exchange, was formed to operate as a licensed entity as states increasingly required insuring organizations to be licensed. On July 1, 1992, remaining Association assets and liabilities were transferred to the Exchange, and the merger between Armed Forces Insurance Cooperative and Armed Forces Insurance Exchange was complete. The formation of the Armed Forces Insurance Agency in 1999 allowed the company to partner with other insurers to offer a broader range of products and services to policyholders.
Corporate affiliations
AFI is a member of The National Association of Mutual InsuranceMutual insurance
A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance. Under this idea, what would have been profits are...
Companies (NAMIC), a trade association
Industry trade group
A trade association, also known as an industry trade group, business association or sector association, is an organization founded and funded by businesses that operate in a specific industry...
for property/casualty insurance companies, and Property Casualty Insurers Association of America; a trade association that represents Armed Forces Insurance and other insurance companies before state and federal lawmakers. As a NAMIC member, AFI has national legislative representation and greater access to resources. AFI also is a corporate member of the Association of the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
(AUSA), a private, nonprofit organization that supports the Army—active duty, National Guard, Reserve, civilians, retirees and family members.
AFI leadership
2009 Board of directors:Chairman Thomas A. Dials, Col, USA (Ret);
Vice Chairman Jack E. Walker;
SAC Chairman Myron J. Griswold, COL USA (Ret);
SAC Vice Chairman Paul D. VanGorden, COL USAF (Ret);
Norman B. Dawson;
Robert E. Doran III;
Don Giles;
David A. Greenamyre;
Paul Heacock;
Thomas M. Fogt.
2009 Subscribers’ advisory committee:
This committee is made up of subscribers who oversee the operations of the Attorney-in-Fact to ensure conformity with the subscriber's agreement and power of attorney for the benefit of all subscribers. The duties and responsibilities of the Subscribers' Advisory Committee (SAC) are to supervise the Attorney-in-Fact's operations; serve as trustees of Subscribers' stock; supervise the finances of AFI; and advise in the selection of accountants for annual statements. 2009 Subscribers’ advisory committee members include:
- Chairman Myron J. Griswold, COL USA (Ret)
- Vice Chairman Paul D. VanGorden, COL USAF (Ret)
- Thomas A. Dials, COL, USA (Ret)
- Dean B. Gilbert, LtCol, USAF (Ret)
- Michael S. Jones, LtCol, USMC (Ret)
- Michael L. Parker, COL, USA (Ret)
- Joyce P. DiMarco COL USA (Ret)
- Edward "Lee" Duggs, Lt, USCG (Ret)
- Norman D. Greczyn, COL, USA (Ret)
2011 Senior management:
- Kurt H. Seelbach, CPACertified Public AccountantCertified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
, CPCU, PresidentPresidentA president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
& Chief Executive OfficerChief executive officerA chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization... - Ardith G. Bequette, CPCU, AIMAIM- Aeronautics :* Aeronomy of Ice in the Mesosphere, NASA satellite* Aeronautical Information Manual- Business :* Alternative Investment Market, operated by the London Stock Exchange* AIM Investment Management, Australian financial planning company...
, ARP, AIAF, VP, Insurance Operations & Corporate Secretary - Arlen Briggs, CPA, Chief Financial OfficerChief financial officerThe chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
& TreasurerTreasurerA treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:... - William Cody, CPCU, Chief Actuary & Chief Risk OfficerChief risk officerThe chief risk officer or chief risk management officer of a corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various segments. Risks are commonly categorized as strategic,...
- Drew M. Mazeitis, Chief Information OfficerChief information officerChief information officer , or information technology director, is a job title commonly given to the most senior executive in an enterprise responsible for the information technology and computer systems that support enterprise goals...
& VP, Marketing
Independent ratings
A.M. BestA.M. Best
A.M. Best Company, Inc., headquartered in Oldwick, New Jersey, is a rating agency designated as a Nationally Recognized Statistical Rating Organization by the United States Securities and Exchange Commission....
, an independent company that evaluates an insurance company's balance sheet
Balance sheet
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A...
strength, performance and business profile, has issued AFI’s current rating as A- (Excellent).
Sponsorships and philanthropy
AFI is a sponsor of the Bell Helicopter Armed Forces Bowl, held at Texas Christian University’s Amon Carter StadiumAmon G. Carter Stadium
Amon G. Carter Stadium is an open-air football stadium on the campus of Texas Christian University in Fort Worth, Texas. It is the home stadium of the TCU Horned Frogs football team. It was named after Amon G...
in Ft. Worth, Texas
Fort Worth, Texas
Fort Worth is the 16th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, just southeast of the Texas Panhandle, the city is a cultural gateway into the American West and covers nearly in Tarrant, Parker, Denton, and...
, on New Year’s Eve. The company also serves as a title partner for the Armed Forces Adventure Area at the Bowl, as well as the Great American Patriot Award, presented to a military luminary at the Bowl game
Bowl game
In North America, a bowl game is commonly considered to refer to one of a number of post-season college football games. Prior to 2002, bowl game statistics were not included in players' career totals and the games were mostly considered to be exhibition games involving a payout to participating...
each year. The recipient for 2008 was Gen. David Petraeus. AFI is a major contributor to the United Way through various company-sponsored events and activities, including an annual sports celebrity golf tournament
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....
. The company also contributes to give2thetroops.org, an America Supports You charity.